Lumentum Holdings (LITE) shares jumped about 10% to $819. 98 on Monday, Oct. 26, after StoneX initiated coverage of the optical networking company with a Buy rating and a $1,200 price target. The rally spread to other optical networking stocks. Coherent (COHR) and Applied Optoelectronics (AAOI) gained about 7. 6% and 10%, respectively, while the Roundhill Photonics & Optics ETF (LYTE) rose 5%. StoneX said Lumentum occupies “critical scarcity points” in high-speed indium phosphide lasers, cloud transceivers and optical circuit switches, The Fly reported .
POLARIS EARNINGS CALENDAR